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Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
 The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still standing below the psychological barrier of 1,000 points mark. The capesize segment, the main key factor, lying behind the overall positive performance of the BDI, faces tremendous supply issues with average time charter earning floating at levels below $3,500/day. During the Lehman crisis of 2008, capesize average time charter earnings have dipped to $2,318/day on the beginning of December of 2008, from the peak of $233,988/day on June 5th. The levels of 2008 belong in a forgettable past with dry bulk operators finding ways to adjust their operational results in the current weak freight market. The recent slide of bunkering costs, the record scrapping activity of this year and the low ordering activity have eased at some level the pain of the market, but the dry cargo demand is not yet at levels that could remedy the imbalance of the freight markets between vessels’ supply and demand.
Panamax have recently found some support with average time charter earning reaching levels at more than $8,000/day, but they are still below $10,000/day, when at similar period last year levels were at around $14,000-$15,000/day. The increased activity in Atlantic and new coal cargoes from Indonesia have recently lifted panamax rates by 20% from the beginning of June, but there is still great uncertainty about the long term stability of the panamax segment given the outstanding orderbook and the upcoming vessel deliveries in 2013. According to Commodore Research, for the second half of this year, the orderbook for panamax vessels stands at roughly 355 vessels, while the orderbook for capesize vessels stands at roughly 145 vessels. For 2013, the orderbook for panamax vessels stands at roughly 240 vessels, while the orderbook for capesizes at around 90 vessels.
Supramax and handysize rates are also showing firmer signs from an increased spot chartering activity with levels at more than $11,000/day for supramax units and near to $10,000/day for handysizes.
Near term prospects for the capesize market remain dark with supramax and handysize vessel categories showing a stronger resistance in the current oversupplied market. Chinese demand for imported iron ore cargo has shown weakness in June due to recent decline in steel production and a large amount of iron ore stockpiled at Chinese ports, even the rise of Chinese iron ore imports in the first five months of the year to around 300.1mt, up 9% year-on-year. There is a positive outlook on the rebound of Chinese iron ore demand in the coming month due to government’s stimulus measures in the industrial sector. Chinese demand for thermal coal remains also low, but the peak summer electricity demand is approaching with the government waiting daily electricity consumption at a record of 15.5 to 16 billion kilowatt hours this summer.
As we are near to end of the first half of 2012, the BDI has averaged below 1,000 points mark, at 940 points, compared with more than 1,300 points last year. The dry outlook is not at all optimistic as larger vessel categories, panamax and capesizes, are struggling to perform in the current vessels’ supply figures, pushing the BDI to hover below 1,000 points. The recent upward changes of the index driven mainly from the boosted performance of the panamax size bringing a euphoria that seems that will no last for a long time.
Source: Maria Bertzeletou, Hellenic Shipping
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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
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